Eldorado Gold Corporation (EGO) Price Target Cut to $4.25 by Analysts at TD Securities

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) had its price objective reduced by TD Securities from $4.75 to $4.25 in a research report sent to investors on Tuesday. TD Securities currently has a buy rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Macquarie cut shares of Eldorado Gold Corporation from an outperform rating to a neutral rating in a research report on Tuesday. Scotiabank cut shares of Eldorado Gold Corporation from an outperform rating to a sector perform rating and set a $4.00 price target for the company. in a research report on Monday, July 31st. BidaskClub raised shares of Eldorado Gold Corporation from a strong sell rating to a sell rating in a research report on Saturday, August 12th. Credit Suisse Group cut shares of Eldorado Gold Corporation from an outperform rating to a neutral rating and dropped their price target for the company from $5.25 to $3.25 in a research report on Thursday, June 29th. Finally, Canaccord Genuity cut shares of Eldorado Gold Corporation from a buy rating to a hold rating in a research report on Friday, July 28th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $4.27.

Eldorado Gold Corporation (NYSE:EGO) opened at 1.97 on Tuesday. The company’s 50-day moving average is $2.03 and its 200-day moving average is $2.84. The company’s market cap is $1.41 billion. Eldorado Gold Corporation has a 52 week low of $1.77 and a 52 week high of $4.34.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. The business had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The firm’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, analysts anticipate that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of EGO. Rehmann Capital Advisory Group bought a new position in shares of Eldorado Gold Corporation in the 2nd quarter worth about $104,000. Karp Capital Management Corp bought a new position in shares of Eldorado Gold Corporation in the 1st quarter worth about $116,000. Aperio Group LLC increased its stake in shares of Eldorado Gold Corporation by 28.6% in the 2nd quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 9,745 shares in the last quarter. Balyasny Asset Management LLC increased its stake in shares of Eldorado Gold Corporation by 43.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 13,889 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Eldorado Gold Corporation by 2.2% in the 2nd quarter. Essex Investment Management Co. LLC now owns 52,990 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 1,148 shares in the last quarter. Institutional investors own 55.08% of the company’s stock.

About Eldorado Gold Corporation

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

Analyst Recommendations for Eldorado Gold Corporation (NYSE:EGO)

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